© Reuters.
Investing.com – Negativity gripped all global markets after Federal Reserve Chairman Jerome Powell announced that the Fed will need to raise interest rates faster and at a higher rate in order to combat inflation.
The US dollar index rose by 1.22% now, jumping to 105.608 against a basket of foreign currencies, while the two-year yields reached a peak of 5,000%, up by 2.17%, while the 10-year bond yields fell slightly to 3.902%, widening the gap between the two-year and ten-year yields by more than 1.0% complete.
The arrival of the two-year Treasury yields to 5.00% coincided with the market pricing for an increase of 50 basis points at the next Federal Reserve meeting, to raise the interest rates, if this occurred, to the levels of 5.25%.
Wall Street..in red
The main indices fell violently after the end of the first days of Powell’s testimony before the US Congress, as it fell by 1.39% to 11513.22, losing 162.71 points, while it fell by 1.75%, losing 584 points, and also fell by 1.66%, to fall below the 4000 points, specifically at 3981.64 points.
Look at the stock
Investors are awaiting data later this week that is expected to show non-farm payrolls increased by 200,000 in February, compared to the much stronger-than-expected 517,000 payrolls reported in January.
Meta (NASDAQ: ) rose 1.0% after Bloomberg News reported that the company will lay off thousands of jobs as soon as this week in a fresh round of layoffs.
Snapchat owner Snap (NYSE: NYSE) extended its gains by 3.8% after Senator Mark Warner said a group of 12 US senators would introduce legislation that would give Commerce Secretary Gina Raimondo new powers to ban Chinese video app TikTok.
DKS Sporting Goods rose 10.6% after the retailer forecast annual profits above Wall Street estimates and more than doubled its quarterly profit.
Declines outnumber advancers by 3.24 to 1 on the New York Stock Exchange and 1.95 to 1 on the Nasdaq.
The S&P posted 10 new highs in 52 weeks and six new lows, while the NASDAQ posted 40 new highs and 112 new lows.
Commodities..gold, oil, and a resounding drop in silver
And it fell by reading the full two points, to trade now at 1817.95, down by 1.98%, and it also fell by 1.80%, to 1818.00 dollars an ounce.
It fell by 4.84%, to record $20,113 an ounce.
The strength of the dollar led oil losses, as it fell 4% to record $77.20 a barrel, while it fell by 3.68% to record $83.03.
Bitcoin lost 1.19% to trade at $22,120.2 a symbol, and Ethereum fell by 0.90%, to $1,551.50.
